Public Sector Pension Investment Board Buys 2,473,040 Shares of Comcast Corporation $CMCSA

Public Sector Pension Investment Board increased its stake in Comcast Corporation (NASDAQ:CMCSA) by 478.8% during the third quarter, Holdings Channel reports. The firm owned 2,989,559 shares of the cable giant’s stock after acquiring an additional 2,473,040 shares during the period. Public Sector Pension Investment Board’s holdings in Comcast were worth $93,932,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Capital A Wealth Management LLC increased its holdings in Comcast by 173.7% in the 2nd quarter. Capital A Wealth Management LLC now owns 687 shares of the cable giant’s stock valued at $25,000 after buying an additional 436 shares during the period. Avalon Trust Co boosted its position in shares of Comcast by 433.3% during the 2nd quarter. Avalon Trust Co now owns 768 shares of the cable giant’s stock worth $27,000 after acquiring an additional 624 shares in the last quarter. Howard Hughes Medical Institute bought a new position in Comcast in the second quarter valued at approximately $29,000. Princeton Global Asset Management LLC raised its position in Comcast by 403.5% during the second quarter. Princeton Global Asset Management LLC now owns 856 shares of the cable giant’s stock valued at $31,000 after purchasing an additional 686 shares in the last quarter. Finally, Newbridge Financial Services Group Inc. bought a new stake in Comcast during the second quarter worth $31,000. Institutional investors own 84.32% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently issued reports on CMCSA. Loop Capital decreased their price target on Comcast from $43.00 to $40.00 and set a “buy” rating on the stock in a research note on Friday, October 31st. Williams Trading set a $40.00 price objective on Comcast in a research note on Friday, October 31st. JPMorgan Chase & Co. lowered their target price on Comcast from $38.00 to $33.00 and set a “neutral” rating for the company in a research note on Friday, October 31st. Moffett Nathanson reduced their price target on shares of Comcast from $58.00 to $53.00 and set a “buy” rating on the stock in a research note on Thursday, November 13th. Finally, The Goldman Sachs Group reiterated a “neutral” rating and set a $30.00 price objective (down from $39.00) on shares of Comcast in a research report on Friday, October 31st. Ten analysts have rated the stock with a Buy rating, seventeen have issued a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $34.90.

Comcast Stock Performance

NASDAQ:CMCSA opened at $31.82 on Friday. The stock’s 50-day moving average is $29.19 and its 200-day moving average is $30.12. Comcast Corporation has a 1-year low of $25.75 and a 1-year high of $37.97. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 0.96. The stock has a market cap of $115.95 billion, a P/E ratio of 5.93, a price-to-earnings-growth ratio of 2.48 and a beta of 0.81.

Comcast (NASDAQ:CMCSA) last posted its earnings results on Thursday, January 29th. The cable giant reported $0.84 EPS for the quarter, topping the consensus estimate of $0.75 by $0.09. Comcast had a net margin of 16.17% and a return on equity of 16.86%. The business had revenue of $32.31 billion for the quarter, compared to the consensus estimate of $32.35 billion. During the same period last year, the company earned $0.96 EPS. The firm’s revenue was up 1.2% compared to the same quarter last year. Equities research analysts anticipate that Comcast Corporation will post 4.33 earnings per share for the current year.

Comcast Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 22nd. Investors of record on Wednesday, April 1st will be paid a $0.33 dividend. The ex-dividend date of this dividend is Wednesday, April 1st. This represents a $1.32 annualized dividend and a dividend yield of 4.1%. Comcast’s payout ratio is currently 24.58%.

About Comcast

Comcast Corporation (NASDAQ: CMCSA) is a diversified global media and technology company headquartered in Philadelphia, Pennsylvania. Its principal operations are organized around Comcast Cable, which provides broadband internet, video, voice and wireless services to residential and business customers in the United States under the Xfinity and Comcast Business brands, and NBCUniversal, a media and entertainment group that develops, produces and distributes content across broadcast and cable networks, film, and streaming platforms.

NBCUniversal’s assets include the NBC broadcast network, a portfolio of cable channels, Universal Pictures and other film and television production businesses, and the Peacock streaming service.